https://www.taxtmi.com/caselaws?id=20520 The High Court upheld the decision that directors' fees and board meeting fees paid by a public limited company are considered as remuneration under section 40(c)(i) of the Income-tax Act, falling within the disallowance provision. The court affirmed that the ceiling of Rs. 72,000 applied to such payments, supporting the Income-tax Officer's decision and rejecting the assessee's arguments based on previous judgments. The court split the reference for the assessment years in question and ruled in favor of including these fees in the disallowance calculation, in alignment with the statutory framework and legislative intent. en-us Mon, 12 Aug 1991 00:00:00 +0530 Sat, 14 Nov 2009 13:57:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20520 The High Court upheld the decision that directors' fees and board meeting fees paid by a public limited company are considered as remuneration under section 40(c)(i) of the Income-tax Act, falling within the disallowance provision. The court affirmed that the ceiling of Rs. 72,000 applied to such payments, supporting the Income-tax Officer's decision and rejecting the assessee's arguments based on previous judgments. The court split the reference for the assessment years in question and ruled in favor of including these fees in the disallowance calculation, in alignment with the statutory framework and legislative intent. Case-Laws Income Tax Mon, 12 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20520